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News Release

London

AIPUT advised by Goya Developments lets 44,033 sq ft of industrial space at Heathrow

AIPUT/Goya represented by JLL, DTRE and Eversheds


​​LONDON, 2 March, 2017 – Airport Industrial Property Unit Trust (AIPUT), the specialist airport industrial fund (£575m as at December 2016) managed by Aberdeen Asset Management has in partnership with their development manager, Goya Developments, a leading specialist warehouse and industrial developer, completed the successful letting of Unit 2, Blackthorne Point at Heathrow to Flostream Ltd.

Commenting on the deal, Adam Creighton​ from JLL’s Industrial & Logistics ​team, said: "We have now seen a number of consecutive active growth years in the Heathrow Industrial & Logistics market and 2016 proved to be particularly busy. There was a consistently high level of take up across the board in terms of size ranges and the year saw 3.12 m sq ft transacted in West London alone. Despite the fact 2016 saw the completion of a number of new developments and refurbishments, total availability levels remain low overall compared with demand and at the end of 2016 supply was 45% lower than the most recent peak in 2010 across the Western Corridor.

Adam Creighton continued: “The right product, in the right location is being quickly snapped up by occupiers. Unit 2 Blackthorne Point, Poyle was exactly that and the completion of the letting upon delivery of the development demonstrates this point and also the strength of the market.”

The high quality, self-contained and detached HQ warehouse extends to 44,033 sq ft (4,091 sq m), and is situated in a prominent position at the entrance to Blackthorne Point. The warehouse benefits from a generous, secure yard to the rear and staff parking to the front and was comprehensively refurbished and let immediately upon completion of the project.

Blackthorne Point is a prime multi-let logistics park located in the centre of Poyle, an established industrial location to the west of Heathrow Airport and the proposed third runway. The park offers quick access to M25 (J14), M4 (J4B) to the north, and is 2 miles from Heathrow and the Cargo Terminal.

Flostream is an innovative mailing house and fulfilment service company who offer a comprehensive range of solutions to companies across the UK and worldwide; the facility will become their UK headquarters premises.

AIPUT has a pro-active long-term strategy of improvement and enhancement in place for Blackthorne Point. This refurbishment project presents the first major phase to be implemented which will cement the estate as West Heathrow’s leading multi-let logistics park.

Fraser Green, at Aberdeen Asset Management added: "We are pleased that AIPUT is forging this new relationship with Flostream, and has successfully delivered a new headquarters premises of the highest quality for their growing business. Grade A supply in the area is virtually unobtainable, and this is a well-timed transaction for all parties, that highlights the growing appeal of Poyle to international logistics occupiers and the underlying strength of the Heathrow warehouse market."

Jim Bryan, at Goya Developments, concluded:’ It has been great working with AIPUT to bring the Goya high end specification and brand to the Poyle market and see it let at practical completion. This represents the first step in redeveloping the estate, and we hope to bring another 30,000 sq ft new build warehouse to the market in 2017.”

AIPUT, advised by Goya, was represented by JLL​, DTRE and Eversheds.